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Nominated Advisor (NOMAD)


A Nominated Advisor (NOMAD) is a certified corporate advisory firm that oversees compliance with the Alternative Investment Market (AIM) rules in the UK for companies who wish to be listed on the exchange. NOMADs are a mandatory requirement for all AIM companies and act as the key regulatory contact. They supervise the admission process for new listings and provide ongoing guidance to already listed companies to ensure they meet the market’s regulatory standards.


The phonetics for “Nominated Advisor (NOMAD)” can be transcribed as:Nominated Advisor: /ˈnɑːmɪneɪtɪd ædˈvaɪzər/NOMAD: /’noʊmæd/

Key Takeaways

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  1. Nominated Advisors, or NOMADS, play a critical role in the Alternative Investment Market (AIM) by ensuring that all companies comply with the rules and regulations of this market. They provide guidance to the businesses, especially those that are new to the AIM.
  2. NOMADS act as gatekeepers for the AIM. They not only assess whether a company is suitable for admission to the market, but also work with the company post-admission to ensure ongoing compliance with the regulations. This includes informing the company of their responsibilities and helping them meet reporting requirements.
  3. The selection of a NOMAD is crucial for any company planning to join the AIM. Given the NOMAD’s significant role in both admission and ongoing compliance, companies must choose a NOMAD with expertise and a good reputation in this area to ensure a smooth transition onto the AIM and to maintain their standing in this market.

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Nominated Advisor, or NOMAD, is a significant term in business and finance, particularly in the context of the London Stock Exchange’s Alternative Investment Market (AIM). The NOMAD acts as a gatekeeper, ensuring the company adheres to the market rules and standards. It provides a key advisory role to companies on their responsibilities and obligations under the AIM rules, ensuring they maintain a good reputation and investor confidence. This includes managing activities like assessing company’s appropriateness to be listed on AIM, providing advice on fundraising methods, and guiding them through the listing process. Thus, a NOMAD plays a crucial role in maintaining the integrity and smooth functioning of the market.


A Nominated Advisor, popularly known as a NOMAD, plays a critical role in guiding and advising companies, particularly those listed on the Alternative Investment Market (AIM). Their primary purpose is to oversee the company’s operations to ensure that it is effectively satisfying the rules and regulations of the AIM. In essence, the NOMAD serves as a liaison between regulators and the business, providing the necessary assurances that the company is acting within stipulated directives, which accelerates trust-building with potential investors.The functions of a NOMAD extend beyond just guiding and ensuring regulatory compliance. They take on roles such as evaluating the suitability of companies for listing on AIM, engaging in the preparation of admission documents, imparting guidance concerning corporate governance and investor relations, and offering advice on transactions after admission. As such, a NOMAD plays a pivotal role in facilitating the successful listing process and ongoing compliance of a company with AIM guidelines, hence fostering the smooth running of the AIM market and enhancing overall investor confidence.


1. SPARK Advisory Partners Limited: This UK-based independent corporate advisory firm acts as a Nominated Advisor (NOMAD) for AIM-listed companies, assisting them with all regulatory compliance, corporate transactions, and financial advisory. The firm is responsible for guiding these companies through the rules and regulations of being listed on the AIM.2. Allenby Capital Limited: Another example is this London-based investment bank that serves as a NOMAD, supporting the listing of businesses on the AIM. Allenby Capital provides advice in areas such as mergers and acquisitions, restructuring, capital raising, and corporate governance, while ensuring the companies meet the requirements of the London Stock Exchange.3. finnCap Ltd: This independent broker and financial advisor for ambitious growth companies across sectors also serves as a NOMAD. The company advises on AIM admission, offering corporate finance advice, research coverage, and investor relations for companies looking to go public. A recent example of their work is guiding Calnex Solutions through their IPO process on the AIM in 2020.

Frequently Asked Questions(FAQ)

What is a Nominated Advisor (NOMAD)?

A Nominated Advisor, or NOMAD, refers to a firm or company that has been approved by the London Stock Exchange to act as an advisor for companies listed on the Alternative Investment Market (AIM).

What are the functions of a NOMAD?

A NOMAD is responsible for providing advice and guidance to companies on AIM regulations. They ensure the company’s suitability for the AIM listing, often assisting during the IPO process, and ensuring continued compliance with obligations even after listing.

Is it mandatory for AIM-listed companies to have a NOMAD?

Yes, it’s a regulatory requirement for every AIM-listed company to have a NOMAD. If a NOMAD resigns and the company can’t appoint a new one within a given period, the company’s shares may be suspended from AIM.

How is a NOMAD different from a standard financial advisor?

A NOMAD not only provides financial advice but also ensures the company’s compliance with AIM regulations. It has a more specific role primarily related to the AIM market, unlike standard financial advisors who cater to wider finance-related advice.

Can a company change their NOMAD?

Yes, a company listed on AIM can change their NOMAD, but they must notify the London Stock Exchange regarding the change and appoint a new NOMAD within a given time period to avoid the suspension of their shares.

Who can become a NOMAD?

To become a NOMAD, a firm needs to meet certain criteria set by the London Stock Exchange, including experience with AIM listings, a good regulatory history, and appropriate qualified staff. The specific requirements can be found in the AIM rules for Nominated Advisors.

How many NOMADs can a listed company have at any given time?

A company can only have one NOMAD at any given time. They are responsible for maintaining direct contact with the London Stock Exchange on behalf of the company.

Related Finance Terms

  • Aim Stock Exchange: A market where many companies who employ a Nominated Advisor (NOMAD) are listed.
  • Listing Rules: The regulations set by the stock exchange that a NOMAD helps the company abide by.
  • Due Diligence: A process carried out by the NOMAD to ensure that a company is suitable for listing on the AIM.
  • Corporate Governance: The system of rules, practices, and processes that a NOMAD advises the company on for maintaining compliance and ethical business operations.
  • Initial Public Offering (IPO): The process of offering shares of a private corporation to the public in a new stock issuance. A NOMAD is instrumental in advising and supporting companies through this process.

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